About The Author

Marc Nemenoff

Marc Nemenoff gives his readers an insight into the decision making process of a professional trader and analyst with 35+ years of market experience. He covers the markets with which he has had the best success throughout his career with. Contact Mr. Nemenoff at (312) 264-4310

Financials:  Dec. Bonds as of this writing (7:00am) are unchanged at 162’04, 10 Year Notes 2 lower at 130’21 and the 5 Year Notes 4 lower at 121’16. Yesterday’s CPI Report showed a month to month increase of 0.9%. Ex-food and energy saw an increase of 0.6% and Year over Year inflation was pegged at 4.6%. All figures were above expectations causing a sell off in treasuries and equities as the market now anticipates a 2022 rate hike thinking that inflation as indicated in the DPI is more than just “transitory”. The yield curve continued to flatten with the 2&5 year gaining in yield on the 10&30 year. The 2 year is now at 0.51%, 5 Year  at 1.22%, 10 Year at 1.55% and the 30 Year at 1.90%. Technically the Bonds traded through last weeks stated resistance of 161’15 trading as 164’04. Support is currently 160’09 and resistance 163’14.

Grains:  March Corn is currently 1’2 lower at 577’4 and March Beans 1’0 higher at 1230’0. This weeks Crop report was surprisingly friendly the Beans, showing yield per acre below average expectation of 51.9 at 51.2 and production of 4.425 billion bushels below average estimate of 4.48 billion bushels. Corn on the other hand was slightly above expectations on both production and yield per acre. Initial reaction was a rally in Beans and a somewhat higher market in Corn. Support in Corn is now 556’0 and resistance 595’0. Support in Beans is now1192’0 and resistance 1255’0. Trends are now sideways to up in Corn and sideways to down in Beans.

 

Cattle:  Live Cattle have held firm for the week with the Dec. LC in the 132.00 area. Support remains at 130.35 and resistance at 132.60. If the market rallies through 132.85 the next level of resistance will be 134.15. Trend remains near term up.

Silver:  Dec. Silver is 51 cents higher at 25.28. Short term trend has turned up as the market rallied in response to inflation fears and the prospect of a 2022 rate hike.

S&P:  Dec. S&P’s are 16.00 higher at 4658.00. The market broke yesterday on the CPI data. Short term trend is down, long term remains up. Support is 4638.00, resistance is now at 4678.00.

Currency: The Dec. Dollar Index is 15 higher at 94.99. The tend remains up as the market rallied through the 94.50 level as traders search for yield. Long term resistance is 95.40.

Reach out to me to receive my trading tips at 312-264-4310 or mnemenoff@pricegroup.com

Regards,

Marc

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